Anand Rathi Financial Services IPO, preparing to raise up to ₹ 1000 crore

Table of Contents

Anand Rathi Financial Services is bringing IPO, preparing to raise up to ₹ 1000 crore

Anand Rathi Financial Services IPO: Veteran brokerage firm Anand Rathi is planning to be listed on the stock market. The size of its IPO can be between Rs. 800-1,000 crore. Anand Rathi Financial Services Limited, started in 1994, is a financial services firm. It offers wealth management, investment banking, corporate finance and advisory, brokerage and distribution services in equities, commodities, mutual funds, structured products, insurance, corporate deposits, bonds and loans. Its clients include institutions, corporations, high-net-worth individuals and families.

In the year 2020, brokerage firm Angel One Limited was listed on the stock market. Since then, no other brokerage firm has been listed. Angel One had raised Rs. 600 crore from the IPO. Anand Rathi’s IPO will have an offer for sale along with new shares. Some existing investors of the firm are looking to sell part of their stake in it.

Company Revenue and Profit

According to filings submitted to the Registrar of Companies (RoC), Anand Rathi Financial Services reported a consolidated revenue of Rs. 1,465.89 crore in FY 2022-23.

It was Rs. 1,160 crore in the previous fiscal. RoC filings show that the company posted a profit of Rs. 708.56 crore in FY 2023, up from Rs. 583.77 crore in FY 2022.

Wants to expand broking business

Sources said that the company is planning to raise new capital to expand its broking business. The firm also has a good presence across India and in select international locations like Dubai in the United Arab Emirates. It is present across 1,200 locations through its branches, sub-brokers and representative offices.

Existing investors will sell some stake

This IPO will have an offer for sale along with new shares. Some existing investors of Anand Rathi Financial Services are looking to sell part of their stake in it. On condition of anonymity, people said that the company is also planning to raise capital to expand its broking business, which includes investments in technology and lending.

What does the company do

Established in 1994, Anand Rathi Financial Services offers wealth management, investment banking, corporate finance and advisory, brokerage and distribution services across equities, commodities, mutual funds, structured products, insurance, corporate deposits, bonds and loans. Its clients include institutions, corporations, high net worth individuals (HNIs) and families.

Presence in Dubai apart from India

The firm has a strong presence across India and select international locations such as Dubai in the UAE. It is present in 1,200 locations through its branches, sub-brokers and representative offices. An Anand Rathi spokesperson declined to comment on the proposed IPO.